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CNBC
Jan 21, 2013 4:00am EST
elections, is thinking fast or has been over the past two weeks of the popularity threshold and angela merkel has been riding and both of their parties are dithering. the sbc slightly inching higher and the sdu inching lower and they're both losing ground in a grander scale. it's the small parties that are the winners, definitely the green wes a record high of over 13%. they're the ones that won the election and lost it for the cdu, not stoeshl democrats themselves. and the liberals, the sdp, many had counted them out and there was an expectation or there was a fear for some that they couldn't even make the century hurdle that you need to get into parliament. they beat that. about you also for the personality ratings and the criticism on a federal scale, but that was his home turf so there was a lot of sympathy vote going in there. the big parties will have to look carefully for coalition partners. the social democrats will try to align themselves with the green that might not be enough. the stronger the greens get, the more the social democrats usually lose and something similar you h
CNBC
Jan 16, 2013 6:00pm EST
election if you are responsible for stopping even a week's worth of social security checks. there won't be any wrangling. pin the tail on the gop and despite the party, within the gop, it's vital donors not be turned off. that's what business of politics is all about. the gop is no longer beholden to big corporations and is embracing and being supported by small businesses. enough. someone who has been a small businessman all his life, started many businesses, let me say these articles are stupid and nonsensical. here is the dirty little secret. all of us who tried our hand of starting a small business, i wish it would get into the media's conscious. small business needs big business to do well. if it's going to do well itself. big business hires, grows, puts people to work. small business caters locally to the big business. let me explain how local businesses would love to be as independent as some pomp particulars seem to believe. we all know better. the summit in new jersey. a bunch of guys. we survive because big business in this case, selgean is headquarters down the street.
CNBC
Jan 21, 2013 11:00am EST
these kinds of speeches, but it's hard. you have a president who has been re-elected who knows this will be the last time he or she will ever do this, and they typically have something on their minds they want to say and they figure they're going to take the moment to do it, but by and large they're all better served if they can keep these things shorter rather than longer. >> don, did you write a short one for clinton's second inaugural? >> president clinton's second inaugural was longer than his first. it didn't stretch on and on, but i think we would have liked -- >> was that his fault or your fault? >> no comment, no comment. we would have liked to have been able to have another day for another edit, but it was a good speech, and, again, you know, they have something to say. president clinton in that case was talking about the 21st century and the millennium that we were moving towards and how he wanted america to come back together. he invoked scripture to talk about being the repairer of the breach. he wanted americans to really pull together during a time of great opportunity
CNBC
Jan 22, 2013 11:00pm EST
enough it fell after the election and we did get pummeled. but what most impressed me was what she told us on november 20th, when everyone began to freak out at that moment, at that chicken little moment, when all the worrywarts were out in full force, she told us to stop worrying. the s&p was ready to rally. she sent me this, holy cow, this is out of sync with what we were thinking. at the time. the s&p is at 1387. now it is at 1492. in short, brodin nailed a 100 point move in the s&p in two months. what a great grab. look at that. she nailed that. i might not be a chartist, but the charts don't have emotions. they aren't about the fiscal cliff or the debt ceiling or the election. it is totally working this market. so i have to go back to the mathematical well. what can i tell you, we want to know what the queen thinks it could go next. take a look at this chart. the s&p said it would. and shortly thereafter she told us that the low was likely to be pivotal, as a key part of her methodology. you heard me talk about fibonacci ratios. these numbers are 23.6%. 38.2%. 50 % and 69.1%. it is
CNBC
Jan 14, 2013 7:00pm EST
presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and he backed up, and he's not going to back up anymore. he took his argument to the american people in the election. he won the election. they held the house, that is true. but he's decided that he's been vindicated by public opinion broadly, and he's going to try to hold that ground. the question is going to be, larry, at the end of the year on the tax issue, he had the hammer behind him of the expiration of all the bush tax cuts. he does not have that hammer right now. what he has is the prospect of a catastrophic standoff between republicans and democrats on the hill and against the white house and can he get his way, impose his way the way he did to some degree in the fiscal cliff negotiations? we're going to find out pretty soon. >> yes, we will. many thanks, john harwood, appreciate it. >>> joining us now exclusively with the gop response, the new chair of the republican study committ
CNBC
Jan 23, 2013 6:00am EST
chances of it going forward i think are small. he has to get re-elected in 2015 to propose the up or down vote in 2017. it does put a cloud over the u.k. and e.u. a bit. >> the u.s. view has been not to get involved in u.s. politics. the u.s. view is that -- involved in u.k. politics. the u.s. view that a strong u.k. and e.u. is good for the u.k., for europe and the united states. we'll let the brits sort out their politics internally. that overall view is one we've been thinking. >> this f they were to cede -- if they were to cede, what would that mean? >> i think it's not wise to speculate about what would happen if certain eventualities were occurring, were to occur. and as you say, it's too early to make predictions. >> let me ask you this -- i was at a dinner last night with a number of people you know well. our viewers know well. an off the record dinner. i will say the topic was does globalization still work. you know, this is a place that -- we're looking out where all you do is talk about globalization, people support globalization, what it means. is it possible that we've r
CNBC
Jan 18, 2013 9:00am EST
the recent election results behind him he is hoping to get republicans to bow and get out of the way of that in terms of trying to hold up a debt limit and let the economy take off. republicans are trying to figure out how do we get leverage to change the level of spending long term in the country? that is where the two sides are at odds in a very difficult way. >> right. finally a lot of chatter this morning about the portrait of the president always sort of encapsulates a moment in time. people either commenting on the degree to which he's gotten gray which happens to a lot of chief executives, but also some say, john, looking satisfied with a win in the last election. what is your take? >> i totally agree with that. he is grayer than he was but just as confident, some would say cocky and the picture captures that. this is a president who a lot of people thought because of the state of the economy wasn't going to win re-election. he did. he faced down the republican campaign and won it and now he is saying, hey. i'm on top and that is behind the confidence with which he's challengi
CNBC
Jan 22, 2013 3:00pm EST
. breaking news on the israeli election with tyler. ? >> thank you very much. the early exit polls in israel indicate that benjamin netanyahu has won a third term as prime minister of that country. those terms have not been continuous or contiguous, i should say. he's projected to win though a center left party, a relatively new one, has made surprising gains according to news reports and that could make the coalition-building over there a little more tricky. right now the prediction is that benjamin netanyahu's likud party has won about 31 seat in the -- in the parliament and will take the lead in forming the government. netanyahu had called these elections in a way as a reflection of his policies on the west bank and settlements, the quelling of the uprising in gaza and, of course, israeli relations or lack of relations, i should say, with iran. many people and political observers there believe that this will then continue his relatively more hardline right-leaning policies on all of those three issues. netanyahu, according to exit polls, will once again be prime minister in israel. >> tha
CNBC
Jan 22, 2013 7:00pm EST
. thank you ever so much. let's turn offur attention overseas in a moment. we have the latest election results. this here is a liberal left manifesto and i think it attempts to sink the republican party. please don't forget free market capitalism. and the path to prosperity. i am larry kudlow. we will be right back. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. >>> the question wasn't whether he would win, but which party would come in second. in order for the form a government he will have to come close to form a government. conventional wisdom says, if he forms a government israel will be close to negotiations again. former anchorman turned politician made statements saying he ran on a platform on mandatory military service. we r
CNBC
Jan 22, 2013 6:00am EST
the election, how that changes his approach to dealing with congress and dealing with the country. it's going to be interesting to see how successful he can be. >> yeah. yep, yep. we'll see. you know, i don't -- you just don't want to push an agenda too far if it was still a pretty close election, john. we'll see. but i don't feel like -- >> well, it was. >> i don't feel like a whole lot of unity was headed our way. this is like throwing down the gauntlet and -- >> i agree with you. he was. and one of the dangers for presidents is that they get a little too confident, a little too cocky. we'll see whether he is reaching a little bit further than he can grasp. now, i willsy that what house republicans did last week on the debt limit was a promising sign for him in the sense that -- and i think he took it that way, which is that they -- at his insistence, he came out after the election and said i'm not going to play that game on the debt limit. in the end, they have broken the link between spending cuts and -- at least in the short-term -- between rising the debt limit and the dolla
CNBC
Jan 16, 2013 5:00pm EST
test and probably cost him millions of dollars in compensation. if only our elected officials would take the same kind of accountability and responsibility. instead, we get a steady diet of d.c. finger pointing on nearly every issue. sometimes it can take a lesson or two from wall street. that will do it for us tonight. see you tomorrow. stay with cnbc. "fast money" begins right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. big drop for stocks. why one veteran market watcher believes stocks may soon see a major pull back. gary schilling joins us live. apple downgrade. we hear from a leading analyst who slashed its ratings on apple. why he thinks the iphone can't save the stock. and, we've got your broading pass to a street fight. a look at whether boeing can leave its dreamliner woes behind. let's go to our top story. let's get both sides of the bank trade here as we heard from bank of america, citi and morgan stanley in the days to come. tim, we start with you. buyer or seller? >> i'd be a buyer. and morgan stanley looks a lot better. g
CNBC
Jan 21, 2013 10:00am EST
months before the election. >> i'm gonna ensure that our space program doesn't suffer when the shuttle goes out of service by making sure that all those who work in the space industry in florida do not lose their jobs when the shuttle is retired, because we can't afford to lose their expertise. >> well, we were lied to when obama came through. gave us a lot of hope and supposedly a lot of change. well, i've got change in my pocket, but the hope is gone. >> in 2010, president obama cancelled constellation and turned over development of a new spaceship to private enterprise. then congress dealt another blow by cutting the funding for the obama plan in half. now the workers with that expertise mr. obama referred to are setting course for carole bess. >> and i've had several who've told me, "i was considering suicide before i came to you." >> carole bess is a bankruptcy attorney. what drove them to that point? >> they felt like failures. you know, "here i am. i can't pay my debts. and i'm probably worth more dead than alive if i have life insurance." >> and folks either aren't finding work
CNBC
Jan 18, 2013 11:00pm EST
course of the next 12 months or so. >> are you seeing confidence coming back after the election? and some of the bigger guys coming in maybe looking for some construction loans, commercial loans that you can make a ton of money on in the second half of 2013? >> well, we saw pretty good loan growth in the course of 2012, pipelines because we had strong closings in the fourth quarter are down a little bit as we transition into the year. i would say that we haven't -- have not seen a big pick-up in confidence in the marketplace. you're correct and we got through the fiscal cliff, but we've got a number of different things, whether it be the debt ceiling, the sequester, the continuing resolution in d.c. that are on the surface. our sense is customers are gaining confidence, they're willing to make marginal investments, but they're going to be very measured steps and they're going to be reflective of a loan environment that's commensurate with a 2% to 3% growth economy. given that we think we'll get our fair share, we'll put some very profitable relationships long-term high-quality r
CNBC
Jan 15, 2013 4:00am EST
berlusconi's group has shrunk and it's now just 9 1/2 points. whoever wins the elections may not be able to -- and, ross, this is probably key for markets, at least, to hold a stable government. >> and we'll have have to deal with reform programs. >> meanwhile, the regular number of political row goes have been committed for approval ahead of next month's election necessitily. they have received 215 applications from an array of national local parties, movements and associations all pushing a variety of causes. these include the black rose movement for right wing game, the poets in action party which advocates representation for poets in the italian parliament, why not for the first time in italian history. they will have a chance to support their favorite football teams in italian government, as well. >> look, just the idea of having more poets, i like. but before continuing on that theme, i want to bring you the results of spain's auction. it is out. the country has sold 3.25 billion euros of 12-month bills and 2 1/2 euros of 18-month bills. roughly in line with what we saw the la
CNBC
Jan 15, 2013 9:00am EST
committee, and also of the general election of the presidential and congressional elections in november. we've gotten past that point now. and our concern is more of around the predictability and the reliability of the economic policies in the united states. they're staggering every few months from one self-imposed crisis to another. we don't think the u.s. is going to default, let's be clear. ultimately it will do what needs to be done in order to make payments. but you can't keep moving from these self-imposed crises to another. while not addressing the underlying -- >> hang on a minute. you're saying you don't think the united states is going to default. when i look at interest rates on treasuries, the treasury doesn't think they're going to default. why downgrade the united states? >> because a key characteristic and a key feature of a aaa -- any aaa issuer is that it has a consistent and predictable financial debt management policy. and as i say, moving from -- staggering from one self-imposed crisis to another, while not addressing the longer term fiscal challenges that t
CNBC
Jan 17, 2013 4:00pm EST
through the election. they may or may not have liked it but at least it's certain now. the fiscal cliff was quote, unquote avoided. now we have the debt ceiling issue so there's some lessening uncertainty but still a lot of uncertainty. so, as we think about '13, i believe if we get some kind of just halfway reasonable leadership out of washington and deal with the debt issue and begin to deal with our fiscal deficits. >> right. >> i think, maria, you could see a real positive lift because people are ready to invest. they need to feel some kind of inspiration, and i think they are ready to invest. >> that's what we're hearing across the board. real quick, you going to raise your dividend this spring? >> well, as you know, we have to go through the process, and we have to wait to see what the fed says, but i'm optimistic. i can't speak for the fed but i'm personally optimistic. >> we'll leave it there. mr. king, good to have you on the program. >> have a good day. >> and to you. chairman and ceo of bb&t. didn't hold on to the triple-digit gains. does that mean we're setting up for a pull
CNBC
Jan 23, 2013 1:00pm EST
election and fact that a majority of the american public want to see taxes raised on the wealthy and indeed that has happened, you wonder whether or not the attorneys don't have a point. >> you know, it is a novel argument. there is precedent in a legal system for sp kind of prejudice against the defendant and what they are arguing here is that this prejudice wasn't race based or any other gender base. what we usually hear, it is class based. if you look at the media coverage leading up to and during the trial there was a lot of focus on his wealth and jurors were aware of that. they may have an arg a upt here, but it'll be a tough one to prove. >> yes, indeed it will. i know you will follow it for us. thanks, robert. >>> we want to let you know that white house is weighing in on the fact that white house just voted and it welcomes the passage of the debt ceiling suspension but repeats its feeling that it would like to see a long-term extension of the debt ceiling. >>> well, if you have an idea and you would like some big money behind it, don't move. we will see how it comes together in the
CNBC
Jan 18, 2013 4:00pm EST
power with the president who has just been re-elected and with congress as our new nbc/"wall street journal" poll showed is only at a 14% approval. he's at 52%. here's what the house republicans are going to put on the floor next week and try to pass. it would be an extension of the debt limit, a rise in the debt loimt that would take us through april the 15th. it would be on condition that the house and senate both passion a budget which they are supposed to do under law by that point anyway, and finally it would take an approach of no budget, no pay if the congress refused to do that. here's the response from senate democrats. they said, no, we will consider a clean debt limit extension without any conditions if the house sends us one, so they are trying to keep the pressure on. the white house says we're encouraged that republicans appear to be backing off their determination to hold the u.s. economy hostage to its budget plans. now, democrats are feeling like they are making progress now. the question is going to be can republicans push this through the house in order to put pre
CNBC
Jan 16, 2013 1:00pm EST
come on. a and a says the main battery was discolored and election trol sis solution leaked. the lithium ion batteries are made by a japanese company. the company down roughly 9%. by the way, the battery in yesterday's incident, same as the battery at boston logan airport fire. >>> finally, lot airlines out of poland, taking off inaugural flight today, from warsaw to chicago. took off about an hour and a half ago. it is due here in chicago, later on tonight. tyler and sue, there are a lot of people asking the executives at lot, are you still going to fly the dream liner. and their response, we've had no problems with the dream liner. it is doing exactly what it is supposed to do. we will take off on time. >> phil lebeau, thank you. should that 787 not grounded? joining me is a senior analyst with oppenheimer and company. mr. reiner, thank you for joining us. should this aircraft be grounded until safety concerns are done away with? >> i don't think so. consider the fact that plane has been flying now for over, well over a year. and yes, there's been incidents, these type of incid
CNBC
Jan 23, 2013 9:00am EST
. you have the election in italy, bonds due, interest on the bonds due in spain. do these represent hiccups do you think? >> i think they're just challenges or marks in the journey. look at what the progress has been in europe. the progress with the fiscal constraint in portugal, in ireland, in spain. the role monti has played in italy and the leadership he's given that country. the steadfastness of merkel in germany. the fiscal restraint in the uk. all of these are saying we get it collectively. we need to show restraint, but we need to restructure at a pace our societies can absorb so we're going to have a continued series of steps. there's no big bang answer. >> speaking of the u.s. for a moment, a number of banks are getting out of fixed income. you're sticking with it. why? even though we've seen a big drop-off in fixed income and equities have been the place to be in terms of flow. >> yeah. honestly, there are very few if you really peel it back, there are very few that are actually exiting fixed income. what a lot of them are doing is bringing down the amount of balance sheet
CNBC
Jan 15, 2013 6:00am EST
is closing the gap on some of his rivals as the italian elections proemp at the end of next month. that has people at a bit of a curb yugs attitude. if nothing else, italy may not have a coalition government to come history. after the successive run, we're lot offing. >> kelly evans, that you can for that. wig. where is wig exactly? >> warsaw. >> warsaw. if they all of a sudden just splashed wig here, i would resemble that remark. >> people said to take notice. >> they would. i could sue whoever did that. >> i'm not only hair club president. i'm the president. >> that was cy. great guy. >> have we had him on? >> we have had him on. i know him obviously personally as a client. >> coming up, why it might be difficult to find tylenol in your local cvs. plus, kevin ferry will join us from the futures pit. but first, a stock to watch this morning. the revenue results are topping the secretes and the homeowner says it sees strong possibility these year. we'll wa much that stock in premarket action. it is up this morning. ♪ [ male announcer ] how do you make 70,000 trades a second...
CNBC
Jan 22, 2013 9:00am EST
country. i think it's discouraging a lot of good people. campaign finance reform, how we elect and re-elect public officials has got to be part of the solution to the dysfunctionalty we see in washington in -- >> in the meantime, enjoy the weather. back to you. >> simon, thanks so much. >>> couple of positive notes from analysts pushing facebook sharply higher today. our julia boorstin is live in l.a. with the details. >> good morning to you. that's right. facebook shares were up as much as 4% higher this morning. there seems to be a growing consensus that facebook will figure out the mobile ad business. oppenheimer notes that it's not hurting user engagement pointing to numbers from december that show facebook growing its lead over its rivals. also bouncing off those numbers, cantor fitzgerald reiterated the buy rating, making more money on mobile and on optimism about the new ad formats. hillside partners unveiled some new research showing growth in users as well as small business spending on facebook ads. and topeka raised the price target to 40 bucks saying that facebook's new
CNBC
Jan 18, 2013 4:00am EST
happen. it's a lot easier than when you're trying the win midterm elections. >> the first report on january consumer sentiment is out at 9:55 a.m. eastern. forecasts call for a reading of 75.5 up three points from december. we'll look at earnings from general electric, morgan stanley, schlumberger, johnson controls, state street and suntrust bank. >>> the outgoing treasury secretary, whose last day on the job is january 25th, tells "the wall street journal" the u.s. is well ahead of other countries in balancing the financial system. geithner says the u.s. has more diversity of strength from energy to high tech and the public should find comfort and optimism in that. but, rob, the public is not finding much optimism, are they? >> they shouldn't, given that we didn't get the fiscal cliff deal that we thought we did on january 1st. we got a mini deal. it looks like rubbish. they shouldn't be desperately optimistic. other things are going right. stock prices have been reasonably buoyant. the gas prices are going to pick up again. consumer sentiment, i wouldn't be getting too carried awa
CNBC
Jan 16, 2013 9:00am EST
solve the debt ceiling? you panicked on the election. >> we'll try something. >> the country, the republic is in repeated crisis. you have a president saying -- he said, okay, what happens if the president doesn't have a crisis after the debt ceiling? what are you going to do if he says, listen, we're just going to go back to being like washington? that was interesting. >> we can talk about fundamentals. the economy will be picking up. housing likely to get in on it. >> maybe we're actually breaking -- maybe the valuations aren't -- >> based on what? >> come on, under wells fargo? >> michael dell, and suddenly, mr. skeptic -- >> overheated debt market, that's always a good sign for an economy. that's always a sign that things are getting a lot better. >> it's been getting overheated since 1979. >> big lbos. that worked out real well. no, i'm just -- there's housing, sales of pickups. sales of cars in europe for 2012, not so good. we'll talk about that. >> germany, the bmw sales, volkswagen sales. one of my cousins in mexico is near a bmw, new plant. the germans are down. they're b
CNBC
Jan 15, 2013 7:00pm EST
elected. but when you start talking about a constitution al mandate, you should not mix apples and oranges and get your politics mixed up with the budget. what i mean is that it has nothing to do with our future spending at all. what we have done is made a moral commitment. that should not be tainted with our ability to pay as we go or to cut back spend iing. real issues. >> if you want to deal with the struggle. when you want to consider the medicare trust fund we have 38 months left and something you might find interesting as a thought exercise. how many of our you viewers are demanding and want a balanced budget? you realize the date after you pass the borrowing authority, it is time to start understanding when you borrow 40 cents on every cent that you spend, where does that lead you? >> as long as you lead the constitutional obligations out of this debate, then we can move on. right up until the resolution date. >> i'm saying the constitution says nobody shall impede the president's obligation. >> i'll leave that alone. i just want to quote. i'm not a constitutional scholar. t
CNBC
Jan 16, 2013 7:00pm EST
the gop start winning national elections again? my pal and our special guest, joe scarborough, the anchor of msnbc "morning joe" is going to join us later. he and i will plot some republican reform. >> first up let's start with boeing. the faa has grounded the boeing 787 dreamliner in the u.s. pending a safeafet check of the plane's lithium batteries. united airlines has already announced it will comply with the order, they have no choice to do so. remember also boeing is a dow component and selling off in the aftermarket and remember this is all related to the recent spate of incidents on board the 787 both here and the united states and in japan. there's been fires in the cockpit on two occasions and fuel leaks as well. our phone phil lebeau will join us with this story. now back to the headline story, president obama called on congress to further restrict assault weapons and limit ammo magazines today. marking the broadest push for gun control in a generation we have cnbc eamon javers who is here to join us with the details. >> reporter: it was an emotional event over at the whi
CNBC
Jan 22, 2013 4:00am EST
going to start shifting to the government itself and the government is looking ahead to an election, as we talked about many, many times. and here becomes the tricky part because they're trying to embark on structural reforms, they're talking about tax reforms, as well. this will be a multi layered process and hopefully they'll be in power long enough to deliver some of those changes. i think the market was expecting for the bank of japan to come in .deliver everything that was going to solve all of japan's problems after decades of recession, then they were probably misguided. but for the moment, the reaction we're getting from people who were watching japan is they probably took as many steps as they could today to try and address this decision. >> kaori, stay with us. ed, welcome. you just heard a little bit of the back and forth. what's your own opinion here on what the boj has or hasn't delivered? >> good morning. thanks very much for having me on the show. my opinion is i completely agree with everything kaori said. even more than that, i would say to the viewing audience, loo
CNBC
Jan 16, 2013 4:00pm EST
re-election contest. chris christie has managed to be elected a republican governor in democratic new jersey and he's a big guy which some people are worried he may not be healthy enough to be president because of that. a whole other study done in "psychology today" a little over the year ago that says a wider a ceo's face is the, the more aggressive and successful he may be. only talking about hes here. let's take a look at a couple of examples. one of the most successful and least successful stocks in the fortune 500 last year. u.s. airways versus super value. the ceo of u.s. airways is doug parker. his face is kind of wide, but the ceo of super value which didn't do that well, he isn't exactly gaunt, so, maria, i don't really know what to tell you. all i know is one thing is neither study talked about women ceos. back to you. >> weren't going into that one. >> not going to touch it. >> thanks, jane. jane wells, wendy,'s, meanwhile, one of the top burger chains in the united states, speaking of posting better than expected numbers for the fourth quarter. stock up 3% on the heels
CNBC
Jan 16, 2013 6:00am EST
always has middle class americans around him, everybody's always on his side, he won the election. will they lose the debt ceiling, too, will they force the issue or run scared because public opinion is not on their side? >> i think there are really three teams in washington. people on the left that include the president. people on the right, people who voted against boehner's plan b and people who want a deal done. i think in the end, people who want a deal done will prevail. maybe at the last hour or three hours after the last hour, we don't know. it was quite obvious the president was trying to blow up the deal on december 31st, while biden and mcconnell were out there negotiating, the president had a pep rally in the east room in which he directly attacked both the congress and the republicans, people trying to do the deal. any who's done any negotiations know what you should have done is praise the process, not attack the people in the middle of the process. i don't think the president liked that deal, i don't think he wanted a deal. i think he'd rather have the issue and i think i
CNBC
Jan 18, 2013 6:00am EST
%. not bad. but not a real spike as sometimes you get with a re-elected president who benefits from the absence of bad feeling once the election is over. he's doing a little better, but he only moves in a narrow band. republicans or the congress, rather, is doing much, much worse. you see the approval rating for congress. it's only 14%. 81% disapprove of congress. that is epically bad and it shows the president has a bit of a strength in hand as he goes into the budget talks. so does this final number that i want to run through, which is if the budget talk fails, the debt limit is not raised and if there are consequences for the united states not meeting its obligations, who would you blame? 45% say they would blame republicans in congress. only 33% say they would blame pb and democrats. the bully pull pit has some value. democrats have a better image with the american people than republicans do. but nobody has a great image right now. and when we asked people, joe, the recent budget talks in washington over the fiscal cliff do they make you feel more confident or less confident about e
CNBC
Jan 22, 2013 2:00pm EST
now. that's why the president came out after the election saying not playing that game. not going to renegotiate. the white house is now prepared to say they concede on that principle for three months, we'll keep our stance unchanged beyond that, and republicans will yield again and we'll get a longer-term extension. >> hopefully it will diffuse market fears about a debt default. the question is what the markets have to say about these gyrations in washington. let's bring in the president of official funds, gentlemen, great to have you with us. >> grit to eat to be here. >> the dow is on multi-year highs, at what strange will wall street say the heck with it. >> the point i like to make in comparison is what happened in december of 2007 and the first part of 2008, the dow industrial average was lagging the transportation average, which was raging forward. and the recession had already begun in december of 2007. the point i would make is neither the market nor the dow jones transportation average has been a good predictor of recessions turning. that's the case as well. >> do you agree
CNBC
Jan 18, 2013 3:00pm EST
your exporters. the biggest election day of last year was december 16th. you had president barack obama, putin, francois hollande and pena in mexico. shinzo abe in japan, december 16th, going to weaken the yen and restructure there, and we think japan has legs, maria. >> right. >> so you want to get exposure, big exporters, automobile companies, electronics. >> japan exporters are on fire and that's why that fund has been really increasing. >> you look at a chart, maria, goes straight up. >> hey, josh, you like health care stocks, too, at this level, don't you? >> we've been extremely bullish on health care since the early part of last-year, and there was absolutely nothing in the data, terk call or fundamental that tells us we should change our mind. one name to highlight is pfizer. they are about to spin off their animal health unit. if you know the data on how spinoffs typically perform, parent and child, you'll want to pay extra special attention to the timing of this deal, because i've got to tell you, i think it will be unlike a lot of value. i think both pieces that have eq
CNBC
Jan 16, 2013 4:00am EST
. fiscal cliff issues, europe, the election, tropical storms, et cetera, and there's still no real clarity on what the business models, investment banking are going to look like as we head toward three. it's going to be much better numbers than a year ago. numbers are going to be slightly down versus the third quarter. and -- to my mind, there's still really nothing we'll be able to take away from the numbers in terms of -- >> which is frustrating because we're at a time when we are trying to re-evaluate what the model is going to be, what earnings will look like going forward. in your view, what is -- what is the investment case for these investment banks today? >> well, the investment case for an investment bank is that when they work very well, they are extremely capital -- if i advise a company and get a fee for ecm or m&a deal, it requires no capital, and i get a lot of money. that's very attractive. the second thing is that one thing your viewers may not realize, banks are more cyclical than people believe, even investment banks. if you are at all pullish about the u.s. econo
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